Real Estate Blog
Friday, July 02 2010
The most recession-proof cities didn't see home prices surge in the first place, says the MetroMonitor, a quarterly report released by Brookings Institute's Metropolitan Policy Program.
MetroMonitor identified 21 large metro areas that have enjoyed robust economies and stable labor and housing markets in the last few years.
"Most of these cities have some general characteristics in common," says Howard Weil, author of the report and a fellow at the Metropolitan Policy Program. "They didn't experience huge housing bubbles followed by a crash, and their economies weren't rooted in the auto industry."
The top 10 stable cities identified by MetroMonitor are:
1. Albany, N.Y.
2. Augusta, Ga.
3. Austin, Texas
4. Baton Rouge, La.
5. Buffalo, N.Y.
6. Columbia, S.C.
8. Des Moines, Iowa
9. El Paso, Texas
Source: CNNMoney.com, Hibah Yousuf (06/24/2010)